Date: March 25, 2015 2:01 PM EDT
Public Company Information:NASDAQ: ULTI
Ultimate Software (Nasdaq: ULTI), a leading cloud provider of human capital management solutions, and NetSuite (NYSE: N), the industry’s leading provider of cloud-based financials/ERP and omnichannel commerce software suites—announced today a strategic alliance to integrate the UltiPro HCM solution and the NetSuite ERP suite, giving businesses the ability to manage their entire business lifecycle—from financials, supply chain, and customer relationship management (CRM); to payroll, HR, and talent management—through two of the industry’s leading cloud solutions.
Ultimate Software—a leading cloud provider of integrated payroll, HR, and talent management solutions, founded in 1990 and serving more than 19 million people records in the cloud—delivers the person-centered UltiPro HCM solution, which serves as the master system of record for all of an organization’s people information, employee management, and workforce intelligence—from talent acquisition through retirement; including HR, payroll, benefits, time and labor management, performance, compensation, and succession management.
NetSuite—the industry’s leading provider of cloud-based financials/ERP and omnichannel commerce software suites, founded in 1998—delivers enterprise-class cloud ERP to approximately 24,000 companies and subsidiaries—including business solutions for finance, sales, marketing, services, supply chain, fulfillment, ecommerce, inventory and order management, and more.
With the UltiPro and NetSuite solutions being widely recognized as two of the most comprehensive cloud solutions—offering some of the industry’s deepest and most mature feature sets—this combination of leading cloud solutions will bring the industry an unprecedented level of end-to-end functionality across every area of the business.
In addition to Ultimate announcing its integration of UltiPro HCM and NetSuite’s cloud ERP platform, the two companies are now partnering to provide each other’s customers solutions in the HCM or ERP space.
“By connecting UltiPro’s rich HR, talent, and payroll capabilities to NetSuite’s suite of ERP applications, Ultimate and NetSuite offer businesses the ability to manage their entire spectrum of business technology needs through two of the most trusted cloud vendors in the world—while enjoying industry-leading functionality, scalability, and configurability—without requiring point solutions for different business applications,” said Scott Scherr, chief executive officer of Ultimate. “Not only are both our solutions leaders in cloud business technology, but our commitment to culture and service to customers is highly aligned. We’re excited to bring this partnership to the market.”
“The combination of Ultimate’s robust HCM functionality together with NetSuite’s system of record for core operational processes provides our customers with a tightly integrated solution to run the core aspects of their business,” said Zach Nelson, chief executive officer of NetSuite. “We’re giving businesses of all sizes enterprise-class functionality, with the flexibility, scalability, and agility of the cloud.”
This announcement gives companies the option to simplify their business ecosystems and realize substantial increases in business operation efficiency. The integration of Ultimate’s end-to-end HCM suite with NetSuite’s comprehensive business management platform will offer significant benefits including:
- seamless movement of new hire data from the HCM/payroll system to the ERP system for immediate access to other business applications and end-to-end business processes
- reduced IT cost to integrate data between systems
- increased data integrity through elimination of duplicate data entry
- significant time savings
- ability to more easily access data across the full suite of business applications for reporting and analysis
- single sign-on for employees to access their HCM solution and any NetSuite business application such as CRM, supply chain, and financials
Ultimate and NetSuite made the announcement at Ultimate’s annual user conference, Connections, today in Las Vegas where more than 1,800 customers were gathered to learn about the direction of UltiPro’s HCM technology.
“Partnerships which deliver tightly integrated best-in-class solutions provide a win-win for customers and prospects. In today’s market, organizations seek tighter and more robust integration between their ERP cloud and HCM clouds, meaning one less headache to operate their enterprise software portfolio,” said Holger Mueller, vice president and principal analyst at Constellation Research.
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